Waste Heat Recovery System Market to expand at 5.7% CAGR by 2023, according Global Waste Heat Recovery System Market 2019 Industry Analysis Report published by Market Research Future. Global Waste Heat Recovery System Industry Report analyzes Market for Waste Heat Recovery System by Application (Steam and Power Generation, and Pre-heating), End-User (Petroleum Refining, Chemical, Cement, Metal Production and Casting, Paper and Pulp, others), Region with Forecast to 2023.
Major Waste Heat Recovery System Companies covered in the market report include Ormat Technologies Inc. (U.S.), Echogen Power Systems Inc. (U.S.), General Electric Co. (U.S.), Cool Energy Inc. (U.S.), Amec Foster Wheeler (U.K.), Econotherm Ltd. (U.K.), Alstom SA (France), Siemens AG (Germany), ABB Ltd. (Switzerland), and Mitsubishi Heavy Industries Ltd. (Japan). Thermax Limited (India), China Energy Recovery Inc. (China), and are among others.
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Global Market Highlights:
Waste heat recovery systems are amongst the most cost-effective way to increase the overall efficiency of the plant and while diminishing the fuel demand. It is extensively used throughout industries. The global Waste Heat Recovery System market is estimated to showcase significant growth over the forecast period owing to factors such as reduced greenhouse gas emissions, application flexibility, and energy efficiency. According to Market Research Future (MRFR), the market is also driven by constant efforts towards lowering harmful carbon emissions and the growing demand for on-site power generation.
The increasing electricity prices are estimated to raise the deployment of electricity & steam generation. Additionally, important government initiatives for energy conservation and reduction of energy costs are estimated to drive the market. The rising usage of Waste Heat Recovery System systems in several industries such as paper & pulp, refineries, heavy metals, petrochemicals, pre-heating chemicals, steam generation, and power generation is expected to contribute substantially to the global market.
Heat exchanger is a crucial component in waste heat recovery system. The profitability of an investment in waste heat recovery depends greatly on the efficiency of heat exchangers and their associated life-cycle costs. R&D opportunities include optimizing present recovery technologies as well as developing new heat recovery technologies. Present technologies can be further developed to maximize recovery, expand application constraints, and improve economic feasibility.
Manufacturing companies have started proactively adopting Waste Heat Recovery System systems to reduce their conventional energy production and have begun in-house electricity production to reduce operational costs, which is estimated to raise the global Waste Heat Recovery System market growth over the forecast period, and rise at a significantly higher CAGR by the end of the forecast period.
Waste Heat Recovery System Industry Segments:
The global waste heat recovery system market has been segmented based on application, end-use, and region.
Based on end-use, the market has been segmented into petroleum refining, chemical, cement, metal production and casting, paper and pulp, and others. Petroleum refining dominated the end-use segment of the market. In this industry, the system is used for many processes such as distillation, thermal cracking, catalytic, and treatment.
Cement industry is expected to be the fastest growing end-use segment of the market. The most energy-intensive process in the cement industry is clinker production in kilns.
However, based on application, the global waste heat recovery system market has been segmented into steam and power generation, pre-heating and others.
North America is a significant regional market for Waste Heat Recovery System systems, with the U.S. being the most important region for the market. The regional market is driven by stringent regulations on energy saving and energy efficiency by the government, and numerous environmental organizations drive the market.
Europe is estimated to report substantial growth and lead the global Waste Heat Recovery System system market through the forecast period due to the rising awareness of Waste Heat Recovery System systems. Additionally, the European Union has taken supportive initiatives to develop energy through waste heat, which has driven the market growth over the past few years and is likely to contribute the market share significantly over the forecast period.
Asia Pacific region is projected to grow at the highest CAGR through the forecast period owing to factors such as high industrialization and the growing significance for sustainable energy in the steadily developing markets of China and India. Moreover, the rise of the manufacturing sector in these countries like China, Japan, Singapore, and Australia is also anticipated to raise the demand for Waste Heat Recovery System systems in cement, paper & pulp, metals, chemicals, and petroleum refining industries.
TABLE OF CONTENTS:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Application
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Waste Heat Recovery System Market, By Application
5.2 Steam And Power Generation
5.2.1 Market Estimates & Forecast, 2017-2023
5.2.2 Market Estimates & Forecast By Region, 2017-2023
5.3.1 Market Estimates & Forecast, 2017-2023
5.3.2 Market Estimates & Forecast By Region, 2017-2023
6 Global Waste Heat Recovery System Market, By End-User
6.2 Petroleum Refining
6.2.1 Market Estimates & Forecast, 2017-2023
6.2.2 Market Estimates & Forecast By Region, 2017-2023
6.3.1 Market Estimates & Forecast, 2017-2023
6.3.2 Market Estimates & Forecast By Region, 2017-2023
6.4.1 Market Estimates & Forecast, 2017-2023
6.4.2 Market Estimates & Forecast By Region, 2017-2023
6.5 Metal Production And Casting
6.5.1 Market Estimates & Forecast, 2017-2023
6.5.2 Market Estimates & Forecast By Region, 2017-2023
6.6 Paper And Pulp
6.6.1 Market Estimates & Forecast, 2017-2023
6.6.2 Market Estimates & Forecast By Region, 2017-2023
6.7.1 Market Estimates & Forecast, 2017-2023
6.7.2 Market Estimates & Forecast By Region, 2017-2023
7 Global Waste Heat Recovery System Market, By Region
7.2 North America
7.2.1 Market Estimates & Forecast, 2017-2023
7.2.2 Market Estimates & Forecast By Application, 2017-2023
7.2.3 Market Estimates & Forecast By End-User, 2017-2023
184.108.40.206 Market Estimates & Forecast, 2017-2023
220.127.116.11 Market Estimates & Forecast By Application, 2017-2023
18.104.22.168 Market Estimates & Forecast By End-User, 2017-2023
22.214.171.124 Market Estimates & Forecast, 2017-2023
126.96.36.199 Market Estimates & Forecast By Application, 2017-2023
188.8.131.52 Market Estimates & Forecast By End-User, 2017-2023
LIST OF TABLES:
Table 1 Global Waste Heat Recovery System Market: By Region, 2018-2023
Table 2 North America Waste Heat Recovery System Market: By Country, 2018-2023
Table 3 Europe Waste Heat Recovery System Market: By Country, 2018-2023
Table 4 Asia-Pacific Waste Heat Recovery System Market: By Country, 2018-2023
Table 5 RoW Waste Heat Recovery System Market: By Country, 2018-2023
LIST OF FIGURES:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top-Down & Bottom-Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
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